SAMOA

FACT SHEET

GENERAL BENEFITS OF OFFSHORE COMPANIES AND TRUSTS ESTABLISHED IN SAMOA

Samoa does not subscribe to imposed external reporting regulations FATCA, ESR, and CRS. It upholds the principle that corporations and individuals legitimately registered within any of their Offshore Products and Services and in compliance with Samoa's diligence and AML laws have a legitimate right to reasonable corporate privacy. Accordingly, there is no public access to registers of Shareholders and Directors.
Cost-efficiencies. Samoa is very attractive, with pricing on average 40% cheaper to form and maintain offshore companies. Caribbean jurisdictions, on average, tend to spend well over USD1,000 to create and maintain Offshore companies, whereas Samoa is significantly under USD1,000.
Redomicile into Samoa. Very easy and cost-efficient to do.
Quick and easy formation. Trusts formed under Samoa Trust Law can be quickly prepared as no formal structure format rules are required. The legal documents can be written in any language as long as there is an accurate translation in English.
Samoan law maturity & use of English. The laws of Samoa are founded on English Common Laws. From 1914 until it was granted independence in 1962, Samoa was a New Zealand Colony. English is an official language in Samoa.
100% Foreign Control. The settlor, beneficiaries, trustee, protector, and enforcer in Samoa Trusts can all be foreigners. All of the assets can be held or maintained in other countries.
Privacy. Non-commercial trusts do not register with the government. Commercially active trusts must register, but the names of the settlor and beneficiaries and asset descriptions and locations remain private. For Samoa Offshore companies, shareholders and Directors do not appear on public registers.
No Taxes. Non-resident settlors and beneficiaries pay no taxes. As long as the settlor and the beneficiaries are not Samoa residents, the trust will not pay corporate taxes, and the beneficiaries will not pay income, estate, or inheritance taxes. Exception*: Residents of Countries which enforce global tax schemes are obliged to disclose and report all derived income to their tax authorities regardless of its source.
Asset Protection. Creditors have two years to file claims. Samoa courts will not recognize foreign court judgments or laws conflicting with Samoa's laws.
Estate Planning. Perpetual life trusts provide many generations of estate planning and legal tax efficiency.
Settlor's Control. Settlors can retain powers and appoint overseers to protect beneficiaries and the trust's purposes.
Foreign judgments & succession laws are not enforced by the Samoa courts, including claims of foreign succession rights and judgments after a marital divorce. Foreign succession laws are not recognized.
Probate Avoidance. With a Samoa trust, there may be no need for a testamentary will or court probate process after the settlor's death. This will save the settlor's heir's time and money as probate proceedings costs and time consumption can be excessive.
Duration. Trusts can be forever (perpetual) or for a fixed period. There are no limitations imposed on Samoa trusts.
Settlor (the person that is establishing the trust). Can be a citizen of any country and reside anywhere.